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| Thread ID: 117855 | 2011-05-07 21:37:00 | IRD?? | pctek (84) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 1200205 | 2011-05-07 21:37:00 | The owner of a Chinese restaurant felt like committing suicide after the Inland Revenue Department demanded she produce more than 20 years of tax records - an incident her tax adviser describes as far from isolated. The woman, who wants to be known as Ms Li, and her husband have run a restaurant/takeaway and groceries business in their small Manawatu community since 1989. In mid-2008 they were visited for the first time by IRD officials when they were asked to provide tax records going back to 1986, the year Li came to New Zealand. The audit lasted nearly three years, during which time the documentation was lost twice, she said. She couldn't believe her eyes when she received a bill for $495,000 in income tax, GST, interest and family support, she said. Unable to understand IRD's audit report, the couple went to tax adviser Jeff Owens. IRD eventually agreed to reduce the amount to $225,000. Unable to bear the stress any longer, Li signed an agreement in April ending the battle on the condition that she would be prosecuted and plead guilty. www.nzherald.co.nz 20 years??!! from their website: You must keep records and paperwork: in New Zealand in the English language, and for seven years unless you get written permission from us to do otherwise. |
pctek (84) | ||
| 1200206 | 2011-05-07 21:55:00 | Wonder what she did to get them riled up like that, but 20 years that's ridiculous | gary67 (56) | ||
| 1200207 | 2011-05-07 22:37:00 | Ridiculous is second nature to IRD - it's from reading all those fantasy stories in their incoming mail. | R2x1 (4628) | ||
| 1200208 | 2011-05-07 22:46:00 | I always understood that one had to keep records for 7 years, AFTER the business closed or was sold. We did, when we had a small business in the '90s. Don't know where the IRD get 20 years from? LL |
lakewoodlady (103) | ||
| 1200209 | 2011-05-07 22:59:00 | I think the IRD needs to be audited | Agent_24 (57) | ||
| 1200210 | 2011-05-07 23:01:00 | Yikes... 20 years??? I'm sure even large multi-million dollar companies would be shredding documents after 7 years. | somebody (208) | ||
| 1200211 | 2011-05-08 01:14:00 | Li's case was "not isolated", Owens said. He had seen many similar examples and some IRD officers were "excessively enthusiastic" in their work. Sometimes taxpayers hadn't seen agreements offered by the department, and interest charges were not explained. Such conduct was grossly misleading, Owens said. Association secretary Raymond Tang said members were concerned about "uncivilised" treatment during investigations. |
pctek (84) | ||
| 1200212 | 2011-05-08 01:28:00 | That sort of bill, it sounds like she had never paid gst in 20 years.... | Alex B (15479) | ||
| 1200213 | 2011-05-08 01:57:00 | It's quite well known that if a business/Returns don't fit a certain criteria expect a call from the IRD Certain cash businesses are always watched for non compliance |
Lawrence (2987) | ||
| 1200214 | 2011-05-08 06:43:00 | Back in 1992 it was: 7 years for salary and wages 10 years plus the curent year for business taxpayers. Perhaps they have come up short on Mr David Henderson. Luerking. |
Lurking (218) | ||
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